BEN BERNANKE

No one at the Federal Reserve advised Bank of America chief Kenneth Lewis on any disclosure issues, Fed spokeswoman Michelle Smith said on Thursday.

Bank of America Corp CEO Kenneth Lewis was pressured by senior federal officials Henry Paulson and Ben Bernanke to accept a merger with troubled Merrill Lynch & Co or lose his job, New York Attorney General Andrew Cuomo said on Thursday.

An investigation of Bank of America Corp revealed facts that raise questions about the transparency of the U.S. government program to help banks in the financial crisis, New York's top legal officer said in a letter made public on Thursday.

Bank of America Corp CEO Kenneth Lewis testified under oath that Federal Reserve Chairman Ben Bernanke and then-Treasury Secretary Henry Paulson pressured him to keep quiet about losses at Merrill Lynch & Co, which the bank was buying, the Wall Street Journal reported.

A Congressional panel is expected to approve legislation on Wednesday that would curb high credit card fees and penalties assessed by many banks that have benefited from the federal government's financial bailout program.

President Barack Obama plans to crack down on deceptive credit-card industry practices that have saddled U.S. consumers with huge debts and soaring interest rates, U.S. officials said on Sunday.

Federal Reserve Chairman Ben Bernanke said on Friday that the U.S. recession had done lasting harm to household finances and that regulators must protect consumers from willfully confusing forms of credit.

Federal Reserve Chairman Ben Bernanke said on Friday that innovation in credit markets must not be stifled, but complexity designed to confuse customers and drive up lending fees would not be tolerated.

Federal Reserve Chairman Ben Bernanke said on Friday that innovation in credit markets must not be stifled, but complexity designed to confuse customers and drive up lending fees would not be tolerated.

The number of Americans claiming jobless aid hit a record in early April and groundbreaking for new homes slumped last month, but a top Federal Reserve official voiced hope the recession was ending.

The number of Americans claiming jobless aid hit a record in early April and groundbreaking for new homes slumped last month, but a top Federal Reserve official voiced hope the recession was ending.

The number of Americans claiming jobless aid hit a record in early April and groundbreaking for new homes slumped last month, but a top Federal Reserve official voiced hope the recession was ending.

The U.S. economy continued to weaken in March and early April but the speed of contraction was fading amid scattered signs the country's recession may be nearing an end, the Federal Reserve said on Wednesday.

On Wednesday the Federal Reserve said despite the continued weakness in the U.S. economy, the rate of the economic shrinkage was lowering.

The U.S. Federal Reserve may face uncomfortably close congressional scrutiny unless it can convince lawmakers that its job in the midst of a crisis is much bigger than merely raising and lowering interest rates.

Officials at the U.S. Federal Reserve have discussed holding regular press briefings to help improve public understanding of unusual actions by the Fed in times of crisis, a Fed official said on Tuesday.

Federal Reserve Bank officials are considering whether to hold regular news conferences, people familiar with the matter tell the Wall Street Journal.

Officials at the Federal Reserve have discussed holding regular press briefings to help improve public understanding of unusual actions by the Fed in times of crisis, a Fed official said on Tuesday.

Officials at the Federal Reserve have discussed holding regular press briefings to help improve public understanding of unusual actions by the Fed in times of crisis, a Fed official said on Tuesday.

On Tuesday hopes of the recession coming to an end were dashed sending U.S. stocks down after reports of the economy and banking sector.

Hopes of seeing the end to the recession were crushed on Tuesday at the U.S. retail sales saw an unexpected drop of 1.1 percent in March compared to the previous month, the Commerce Department said.